The construction industry in Mindanao is experiencing robust growth with more residential houses and commercial buildings being constructed.
Federation of Philippine Institute of Architects (FPIA) chair Sonny Labao said the industry is better this year than last year with an estimated 15 million houses built in Mindanao alone.
He also said three 10-story commercial buildings are going to be built somewhere in Davao City. However, Labao declined to divulge the details of the projects to avoid preempting them, hinting only that one of them is a hotel.
On the other hand, FPIA committee head architect Romy Birrey said Mindanao is second only to Metro Manila in terms of processing building permits, indicating robust movement in the construction industry.
He attributed this upward trend to the city’s peace and order stability.
“Because of the city’s peace and order, everybody is coming back,” he said.
Birrey said the flooding of tourists from Asian countries such as South Korea and Japan and the non-availability of vacant apartments as well as fully booked hotels signal the city’ economic growth.
Meanwhile, City administrator Wendel Avisado said the city’s construction industry is “a sellers market.”
He said of the city’s P1.5 billion acquired income last year, a considerable amount was contributed by the construction industry.